The manat (code: AZN) is the currency of Azerbaijan. It is subdivided into 100 qəpik. The word manat is borrowed from the Russian word Монета "moneta" (coin) which is pronounced as "manta" and is a loanword from Latin. Manat was also the designation of the Soviet ruble in both the Azerbaijani and Turkmen languages.

The Azerbaijani manat symbol, ₼ (), was assigned to Unicode U+20BC in 2013. A lowercase m can be used as a substitute for the manat symbol.

The second manat was introduced on 15 August 1992.[1] It had the ISO 4217 code AZM and replaced the Soviet ruble at a rate of 10 rubles to 1 manat.

From early 2002 to early 2005, the exchange rate was fairly stable (varying within a band of 4770–4990 manat per US dollar). Starting in the spring of 2005 there was a slight but steady increase in the value of the manat against the US dollar; the reason most likely being the increased flow of petrodollars into the country, together with the generally high price of oil on the world market. At the end of 2005, one dollar was worth 4591 manat. Banknotes below 100 manat had effectively disappeared by 2005, as had the qəpik coins.

Coins were issued in denominations of 5, 10, 20 and 50 qəpik, dated 1992 and 1993. Although brass and cupro-nickel were used for some of the 1992 issues, later issues were all in aluminium. These coins were rarely used in circulation.

On 1 January 2006, a new manat (ISO 4217 code AZN, also called the "manat (national currency)") was introduced at a value of 5,000 old manat. Since 1 October 2005, prices have been indicated both in new manat and in old manat to ease transition. Coins denominated in qəpik, which had not been used from 1993 onward due to inflation, have been reintroduced with the re-denomination. The former manat (ISO code 4217 AZM) remained valid through 31 December 2006.[2]

The new banknotes and Azerbaijani Manat symbol, ₼, were designed by Robert Kalina in 2006, and the symbol was added to Unicode (U+20BC) in 2013, after failed addition proposals between 2008 and 2011.[3] The final Azeri Manat symbol design was inspired by the design of the Euro sign (€), based on an initial proposal by Mykyta Yevstifeyev,[4] and resembles a single-bar Euro sign rotated 90° clockwise. The manat symbol is displayed to the right of the amount, similar to the British Pound.[clarification needed]

Coins in circulation are 1, 3, 5, 10, 20 and 50 qəpik.
Most coins closely resemble the size and shape of various euro coins. Most notably the bimetallic 50 qəpik (similar to €2 coin) and the 10 qəpik (Spanish flower, like the 20 euro cent coin).
Coins were first put into circulation during January 2006 and do not feature a mint year.

Banknotes in circulation are 1, 5, 10, 20, 50, 100, and 200 manat. They were designed by Austrian banknote designer Robert Kalina, who also designed the current banknotes of the euro and the Syrian Pound. The notes look quite similar to those of the euro and the choice of motifs was inspired by the euro banknotes.[citation needed]

In 2009 the Azərbaycan Milli Bankı (National Bank of Azerbaijan) was renamed the Azərbaycan Respublikasının Mərkəzi Bankı (Central Bank of Azerbaijan). In 2010, the 1-manat banknote was issued with the new name of the issuing bank, in 2012 a 5-manat banknote was issued with the new name of the issuing bank and in 2017 a 100-manat banknote dated 2013 was issued with the new name of the issuing bank.

Obverse

Reverse

Description

1 manat (2009)

5 manat (2009)

100 manat (2013)

| || || 200 manat (2018)

In 2011 Azerbaijan's Ministry of Finance announced it was considering to issue notes of 2 and 3 manat as well as notes with values larger than 100 manat.[6] In February 2013 the Central Bank of Azerbaijan announced it would not introduce larger denomination notes until at least 2014.[7]

In 2018, a 200-manat banknote was issued to commemorate Heydar Aliyev's 95th birthday.[8]